The GBPUSD attempted to push higher yesterday topped at 1.4376 but whipsawed to the downside and closed lower at 1.4285. The bias is neutral in nearest term. Overall I remain bullish but need a clear break and consistent movement above 1.4350 to resume the major bullish trend targeting 1.4500 region.
Immediate support is seen around 1.4275 – 1.4240 area. A clear break and daily close back below that area would interrupt the bullish scenario testing 1.4150 region or lower.
The GBPUSD had a bearish momentum yesterday bottomed at 1.4173 after another failure to make a clear break above 1.4275 key resistance as you can see on my daily chart below. This fact could create another bearish pullback. The bias is bearish in nearest term testing 1.4150 – 1.4100 region.
Immediate resistance is seen around 1.4250. A clear break above that area could lead price to neutral zone in nearest term retesting 1.4275 – 1.4350 key resistance area which need to be clearly broken to the upside to resume the major bullish trend.
The GBPUSD continued its bearish momentum yesterday bottomed at 1.4069. The bias remains bearish in nearest term testing 1.3960 as a part of the bearish phase after the false breakout above 1.4275 key resistance as you can see on my daily chart below.
Immediate resistance is seen around 1.4150. A clear break above that area could lead price to neutral zone in nearest term but as long as stay below 1.4275 I prefer a bearish short-term scenario at this phase. On the downside, a clear break and daily/weekly close below 1.3960 would retest 1.3710 region next week.
The GBPUSD had a bearish momentum last week following another false breakout above 1.4275 key resistance area as you can see on my daily chart below. The bias is bearish in nearest term testing 1.3960. A clear break and daily close below that area could trigger further bearish scenario testing 1.3710 key support this week.
Immediate resistance is seen around 1.4050. A clear break above that area could lead price to neutral zone in nearest term but as long as stay below 1.4100 area I still prefer a bearish short-term bias at this phase.
The GBPUSD continued its bearish momentum yesterday bottomed at 1.3924 and hit 1.3917 earlier today in Asian session. The bias remains bearish in nearest term testing 1.3850 area as a apart of the bearish phase after a second false break above 1.4275 key resistance area as you can see on my daily chart below.
Immediate resistance is seen around 1.3960 – 1.4000 region. A clear break above that area could lead price to neutral zone in nearest term testing 1.4050 region. On the downside, a clear break and daily close below 1.3850 would expose 1.3710 key support and the trend line support area which is a good place to buy with a tight stop loss as a clear break below that area would invalidate my major bullish trend.
The GBPUSD was corrected higher yesterday topped at 1.3986 and hit 1.3995 earlier today in Asian session. The bias is neutral in nearest term but my overall short-term bias remains bearish as a part of the bearish phase after the false breakout above 1.4275 key resistance as you can see on my daily chart below.
Immediate support is seen around 1.3950. A clear break below that area could trigger further bearish pressure testing 1.3900 or lower. Immediate resistance is seen around 1.4030. A clear break above that area could trigger further bullish pullback testing 1.4100 region. Overall, as long as stay above the trend line support my major bullish outlook remains valid but as long as stay below 1.4275 price is still in a bearish consolidation phase.
The GBPUSD regained its bearish momentum yesterday bottomed at 1.3921. The bias is bearish in nearest term especially if price able to make a clear break below 1.3917 testing 1.3850 or lower as a part of the bearish correction phase after the false breakout above 1.4275 key resistance.
Immediate resistance is seen around 1.4000. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. On the downside, a clear break and daily close below 1.3850 would expose 1.3710 key support area and the major trend line support which is a good place to buy with a tight stop loss as a clear break below the trend line support would invalidate my major bullish outlook.
The GBPUSD attempted to push higher yesterday topped at 1.3996 but closed lower at 1.3912, printed a bearish pin bar as you can see on my daily chart below. This fact keeps the bearish bias after the false breakout above 1.4275 remain strong. The bias remains bearish in nearest term testing 1.3850.
Immediate resistance is seen around 1.3960. A clear break above that area could lead price to neutral zone in nearest term but only a clear break above 1.4000 would interrupt the bearish correction phase. On the downside, a clear break and daily/weekly close below 1.3850 would expose 1.3710 and the trend line support area next week, which remains a good place to buy with a tight stop loss as a clear break below the trend line support would invalidate my major bullish outlook.
The GBPUSD continued its bearish momentum last week bottomed at 1.3746 as a part of the bearish phase after the false breakout above 1.4275 key resistance area as you can see on my daily chart below. The bias remains bearish in nearest term testing 1.3710 and the major trend line support (located around 1.3650) which is a good place to buy with a tight stop loss below 1.3650 as a clear break below that area would invalidate my major bullish trend.
Immediate resistance is seen around 1.3850. A clear break and daily close above that area could lead price to neutral zone in nearest term testing 1.3933 region.
The GBPUSD was indecisive yesterday. Price attempted to push lower bottomed at 1.3710 but closed a little bit higher at 1.3755. While the overall short-term bias remains bearish as a part of the bearish phase after the false breakout above 1.4275, 1.3710 region and the trend line support remains a good place to buy with a tight stop loss below the trend line support (1.3650) as a clear break below the trend line support would end the major bullish trend.
Immediate resistance is seen around 1.3805. A clear break above that area could trigger further bullish pressure testing 1.3850/70 region.
